Indorama ready to start with $300 mln worth of investment in Kazakhstan, says Vice Chairman

Amit Lohia, Vice Chairman of Indorama Corporation, revealed in an exclusive interview with Silk Way TV channel that one of the biggest chemical companies is ready to invest $300 million in Kazakhstan and it’s only the beginning.

On the margins of the Kazakh-Singaporean Business Forum, Amit Lohia told Silk Way TV channel correspondent Ainur Imangali that Indorama is a chemical company that produces petrochemicals and fertilizers.

In his words, at the forum the sides looked into ‘possible projects that Indorama could invest in Kazakhstan in petrochemicals or in fertilizers in general’.

As to the way the two countries can forge their cooperation, he said: “I think you have to look at the reserves, the mines from which the raw material will come out. And then we'll work on how to monetize that into a fertilizer, into end product. So it's just the technical work. Now once we have an idea on which reserves to work on’.

“These projects normally take about three years to come to full fruition. That's the usual time for a greenfield project like this,” Vice Chairman Lohia commented on how much time the project might take.

“Investment size, we can start small with something like $300 million would be a beginning,” Lohia said of the potential size of investment in Kazakhstan. “And then over time, phase two, phase three will come. It will grow more and more”.